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Qualcomm Stock Rises After Q4 Beat-and-Raise
Schaeffers Investment Research· 2024-11-07 15:47
Semiconductor firm Qualcomm Inc (NASDAQ:QCOM) reported fiscal fourth-quarter results after yesterday's close, with earnings per share and revenue both beating estimates. What's more, the company's December quarter guidance was higher than expected, and the company's board approved $15 billion in additional buybacks. At last glance, the chip stock was up 1.6% at $175.82, extending its year-over-year lead to 47.1%. On the charts, QCOM briefly broke above the $180 level and its 160-day moving average, but is b ...
Breakout Alert: Qualcomm Just Hit The Rally Button
MarketBeat· 2024-11-07 15:00
Qualcomm Inc. NASDAQ: QCOM, the California-based semiconductor heavyweight with a market cap of $192 billion, has had a decent year. It started with a bang and continued 2023’s rally all the way to a fresh all-time high in June before shares slid 35% into August.  Since then, they’ve been consolidating their gains and setting a strong foundation for the next leg of the rally. Last night’s earnings report should offer a fresh spark, and there are plenty of reasons to believe that this stock could be gearing ...
Buy, Sell, Or Hold Qualcomm Stock?
Forbes· 2024-11-07 14:03
CHINA - 2024/09/21: In this photo illustration, a Qualcomm logo is displayed on the screen of a ... [+] smartphone. (Photo Illustration by Sheldon Cooper/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesMobile chipset major Qualcomm (NASDAQ: QCOM) posted a better-than-expected set of Q4 FY’24 yesterday and guided better-than-expected numbers for the holiday quarter, driving the stock up by about 6% in after-hours trading on Wednesday. While revenue rose 9% year-over-year to $ ...
Missed Out on Nvidia? Buy This Amazing Artificial Intelligence (AI) Semiconductor Stock.
The Motley Fool· 2024-11-07 08:56
Qualcomm could be the best AI stock to own forever.In today's video, I will talk about Qualcomm's (QCOM 4.27%) fourth-quarter earnings report. Watch the short video to learn more, consider subscribing, and click the special offer link below.*Stock prices used were from the trading day of Nov. 6, 2024. The video was published on Nov. 6, 2024. ...
Qualcomm(QCOM) - 2024 Q4 - Earnings Call Transcript
2024-11-07 01:23
Financial Data and Key Metrics - Non-GAAP revenues for Q4 2024 were $10.2 billion, with non-GAAP earnings per share (EPS) of $2.69 [6] - Chipset business revenues were $8.7 billion, and licensing business revenues were $1.5 billion [6] - QCT handset revenues were $6.1 billion, in line with expectations [20] - QCT IoT revenues increased 24% sequentially to $1.7 billion, driven by new product launches and channel inventory normalization [20] - QCT automotive revenues reached a record $899 million, up 11% sequentially and 68% year-over-year [21] - The company returned $2.2 billion to stockholders, including $1.3 billion in stock repurchases and $947 million in dividends [21] - Full-year fiscal 2024 revenues were $39 billion, with non-GAAP EPS of $10.22, representing 21% year-over-year growth [22] Business Line Performance - Handset revenues grew over 20% year-over-year, driven by premium-tier Snapdragon products and channel inventory normalization [23] - IoT revenues grew sequentially throughout the year, with full-year growth of 55% in automotive, driven by content increases in new vehicle launches [23] - The Snapdragon 8 Elite platform, featuring a second-generation custom Oryon CPU, delivered 30% faster performance with 57% less power [11] - The Snapdragon X Series platforms have expanded to 58 platforms, with strong traction in the PC market [12][38] - The Qualcomm IQ Series was introduced for industrial IoT, offering up to 100 TOPS of on-device AI performance [15] Market Performance - The company expects global 3G, 4G, and 5G handset units to increase by low to mid-single digits year-over-year in calendar 2024 [24] - QCT IoT revenues are expected to grow by more than 20% year-over-year, with growth across consumer, industrial, and networking segments [25] - QCT automotive revenues are forecasted to grow by 50% year-over-year, with flat sequential growth [25] - The company anticipates greater than 40% sequential revenue growth from Chinese OEMs in Q1 fiscal 2025 [24] Strategic Direction and Industry Competition - The company is transitioning from a wireless communications company to a connected computing company for edge AI [6] - Partnerships with Meta, Amazon, and others are driving the transition to AI-enabled edge computing [10] - The Snapdragon 8 Elite platform has been adopted by major OEMs, including Xiaomi, Honor, OPPO, and Vivo, with additional launches expected from Samsung and ASUS [12] - The company is expanding its presence in the automotive market with the Snapdragon Cockpit Elite and Snapdragon Ride Elite platforms, which offer significant AI performance upgrades [17][18] Management Commentary on Operating Environment and Future Outlook - The company remains focused on executing its growth and diversification strategy while maintaining operating discipline [8] - Management is optimistic about the momentum of edge AI across the business and the potential for a new cycle of semiconductor innovation [9] - The company expects to provide a financial framework for its diversification strategy and growth at the upcoming Investor Day on November 19 [34][26] Other Important Information - The company introduced the Networking Pro A7 Elite Platform, integrating Wi-Fi 7, 5G, and AI co-processing for enterprise and home networking [16] - The Snapdragon AR1 Gen 1-powered Ray-Ban Meta glasses are receiving new AI features, including real-time speech translation and location assistance [14] - The company announced the Qualcomm IoT Solutions Framework, aimed at reducing time-to-implementation and improving operational efficiencies for industrial IoT solutions [15] Q&A Session Summary Question: Strength in Automotive Segment - The strength in automotive is driven by new models launching with Qualcomm technology, reflecting a shift in market share rather than market conditions [28] Question: Arm Dispute - The company is confident in its broad, well-established license rights covering custom-designed CPUs, with the trial scheduled for December [29] Question: IoT Growth Drivers - IoT growth is driven by new product launches in PC, XR, and other areas, along with channel inventory normalization [32] Question: Sustainability of Double-Digit Growth - The company is not guiding beyond Q1 but will provide a financial framework at the Investor Day [34] Question: Chipset Gross Margins - Gross margins are expected to remain stable, with product mix playing a key role in future performance [36] Question: PC Market Contribution - The PC market is showing strong traction, with 58 platforms now in development, up from 20 at launch [38] Question: Automotive Exposure in China - The company has a diverse portfolio with design wins globally, not reliant on any specific geography [41] Question: Handset Market Dynamics - The handset market is seeing content increases and a shift towards premium-tier devices, with ASPs benefiting from more capable chipsets [44] Question: Licensing Business Seasonality - The licensing business is expected to follow normal seasonality, with no structural changes anticipated [48] Question: End Market Demand - The company is seeing strong demand, particularly from Chinese OEMs, with no significant inventory dynamics [51] Question: China Android Growth - The growth in China Android is driven by customer launch cadences and demand, not related to tariffs or pull-forward effects [54] Question: IoT Business Challenges - The IoT business is benefiting from new product launches and early demand for AI-ready industrial solutions [56] Question: Large Customer Risk - The company maintains its planning assumption of a 20% share for the 2026 launch, with no new information on customer internalization [57]
Qualcomm (QCOM) Q4 Earnings: How Key Metrics Compare to Wall Street Estimates
ZACKS· 2024-11-07 00:00
For the quarter ended September 2024, Qualcomm (QCOM) reported revenue of $10.24 billion, up 18.7% over the same period last year. EPS came in at $2.69, compared to $2.02 in the year-ago quarter. The reported revenue represents a surprise of +3.49% over the Zacks Consensus Estimate of $9.9 billion. With the consensus EPS estimate being $2.56, the EPS surprise was +5.08%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...
Qualcomm (QCOM) Q4 Earnings and Revenues Surpass Estimates
ZACKS· 2024-11-06 23:21
Qualcomm (QCOM) came out with quarterly earnings of $2.69 per share, beating the Zacks Consensus Estimate of $2.56 per share. This compares to earnings of $2.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.08%. A quarter ago, it was expected that this chipmaker would post earnings of $2.25 per share when it actually produced earnings of $2.33, delivering a surprise of 3.56%.Over the last four quarters, the company has sur ...
Qualcomm Stock Pops on Better-Than-Expected Earnings, $15B Buyback
Investopedia· 2024-11-06 22:26
Qualcomm (QCOM) posted fiscal fourth-quarter earnings that exceeded analysts' expectations and announced a $15 billion stock buyback, driving shares higher after the closing bell Wednesday. The chipmaker reported fourth-quarter revenue of $10.24 billion, up 19% year-over-year and above the analyst consensus from Visible Alpha. Net income was $2.92 billion or $2.59 per share, compared to $1.49 billion or $1.32 per share a year ago and beating Wall Street projections. The revenue gains came as handset semicon ...
Qualcomm(QCOM) - 2024 Q4 - Earnings Call Presentation
2024-11-06 22:19
Fourth Quarter and Fiscal 2024 Earnings November 6, 2024 Note Regarding Forward-Looking Statements 2 In addition to historical information, this document and the conference call that it accompanies contain forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: our growth and diversification opportunities, including those in automotive, IoT and the artificial intelligence (AI) space; our business, product and technology strategies ...
Qualcomm(QCOM) - 2024 Q4 - Annual Report
2024-11-06 21:09
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark one) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 29, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . | --- | --- | |-----------------------------------------------------------------------------|-----------------------| | | | | Commission File Number | 0-1952 ...